GFH reports net profit of US$84.22 million attributed to shareholders for 2021

GFH reports net profit of US$84.22 million attributed to shareholders for 2021

GFH Financial Group B.S.C (GFH) announced its financial results for the fourth quarter (“the quarter”) and twelve months ended 31 December 2021 (“the year”). Net profit attributable to shareholders was US$23.88 million for the fourth quarter of the year up 8.92%, compared with US$21.93 million in the fourth quarter of 2020. The increase was the result of strong continued performance across the Group’s core business lines and significant contributions from its investment banking business, which generated US$52.25 million in fees from placement activities linked to the Group’s investments in the logistics, healthcare and education sectors. This included investments in a prime FedEx logistics facility in the US, the UAE’s leading multi-speciality healthcare provider and a global healthcare education pioneer alongside Schroders Capital with whom the Group signed a strategic partnership during the fourth quarter to co-invest in select private equity and venture capital deals in Europe and the Americas. Earnings per share for the quarter was US cents 0.72 versus US cents 0.64 for the comparative quarter of 2020. Total income for the fourth quarter was US$128.14 million compared with US$109.29 million in the fourth quarter of 2020, a rise of 17.25%. Consolidated net profit for the fourth quarter was